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TSX Stays Positive… Barely

Canada's main stock index nicked higher by noon hour on Wednesday, after a supply disruption at one ...

Canada's main stock index nicked higher by noon hour on Wednesday, after a supply disruption at one of the country's largest oil sands facilities push oil prices higher lifting energy stocks.

The S&P/TSX Composite Index showed gains of 5.69 points to greet noon at 16,285.78

The Canadian dollar was static at 75.18 cents U.S.

A Suncor Energy spokeswoman reaffirmed, production at Syncrude, one of Canada's largest oil sands facilities, is likely to remain offline at least through July.

Suncor gathered 18 cents to $53.33, while Encana gained 79 cents, or 4.7%, to $17.79, and Precision Drilling rose 14 cents, or 3.2%, to $4.51.

Among tech stocks, Shopify was punished $11.88, or 5.8%, to $194.00.

Corus Entertainment plummeted $1.09 or 17.4%, to $5.16, making it the top decliner on the TSX, after reporting third-quarter revenue that missed Wall Street estimates.

The second biggest decliner proved to be shares of Canopy Growth Co, down $1.35, or 3.3%, to $39.73, after reporting fourth-quarter results.

Federal Finance Minister Bill Morneau says he wants North American Free Trade Agreement negotiations to resume as soon as possible, adding that while the Canadian economy was doing well, tariffs imposed by the United States on steel and aluminum were a problem.

ON BAYSTREET

The TSX Venture Exchange backtracked 3.44 points to 741.65

Eight of the 12 TSX subgroups were lower midday, health-care weighing the most, off 2.1%, while information technology swooned 1.6%, and consumer discretionary stocks fell 0.5%.

The four gainers were led by energy, charging ahead 1.9%, while telecoms advanced 0.3%, and industrials took on 0.2%.

ON WALLSTREET

Stocks rose on Wednesday as a crackdown on Chinese tech investments by the Trump administration was less restrictive than expected.

The Dow Jones Industrials climbed 170.5 points – off its highs of the morning -- to 24,453.61, with Boeing, Chevron and Caterpillar among the best-performing stocks in the index.

The S&P 500 gained 13.52 points to 2,736.58, with energy outperforming

The NASDAQ hiked 10.86 points to 7,572.49, as Facebook, Amazon, and Netflix all traded higher.

Dow components Caterpillar, Apple and Boeing all climbed more than 1%. Energy stocks jumped 1.7% as oil added to strong gains from the previous session.

General Electric shares jumped nearly 5% after Oppenheimer upgraded the stock to perform from underperform, citing its debt-reduction plan.

Shares of Netflix rose 2% after Bank of America Merrill Lynch raised its price target to $460 per share from $352 as analysts noted there is "still upside for the new king of all media."

The government will rely on the newly strengthened Committee on Foreign Investment in the United States to deal with concerns about foreign purchase of sensitive domestic technologies, a senior administration official said Wednesday.

Prices for the benchmark for the 10-year U.S. Treasury gained, lowering yields to 2.86% from Tuesday’s 2.88%. Treasury prices and yields move in opposite directions.

Oil prices took on $1.22 to $71.75 U.S. a barrel.

Gold prices slipped $3.10 to $1,256.80 U.S. an ounce.